{"id":512586,"date":"2022-12-15T22:12:19","date_gmt":"2022-12-16T03:12:19","guid":{"rendered":"https:\/\/wncen.com\/?p=512586"},"modified":"2024-06-11T08:08:57","modified_gmt":"2024-06-11T08:08:57","slug":"bitcoin-price-prediction-btc-16k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-prediction-btc-16k\/","title":{"rendered":"Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K"},"content":{"rendered":"<p><em>Bitcoin price failed to clear $18,000 and corrected lower. BTC is signaling bearish signs and might even start a fresh decline in the coming sessions.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downward move and traded below the $17,600 support.<\/li>\n<li>The price is trading below $17,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a major bullish trend line with support near $17,620 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move lower unless it reclaims the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Restarts Decline<\/h2>\n<p><a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-retreats-18k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin price attempted an upside break<\/a> above the $18,400 zone resistance zone. BTC failed to stay above the $18,000 pivot level and reacted the downside.<\/p>\n<p>A high was formed near $18,387 before the price started a fresh decline. There was a clear move below the $18,200 and $18,000 levels. The price declined below the 50% Fib retracement level of the key wave from the $16,881 low to $18,387 high.<\/p>\n<p>Besides, there was a break below a major bullish trend line with support near $17,620 on the hourly chart of the BTC\/USD pair. Bitcoin price is now below $17,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-reversal-18k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-512587\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?resize=1834%2C845\" alt=\"Bitcoin Price Prediction\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/Bitcoin-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>On the upside, an immediate resistance is near the $17,500 level and the 100 hourly simple moving average. The first major resistance is near the $17,650 zone, above which the price may perhaps revisit the $18,000 zone. The next major resistance is near $18,380, above which the price might gain pace and rise towards the $19,000 level.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $17,650 resistance, there could be more downsides. An immediate support on the downside is near the $17,240 level. It is near the 76.4% Fib retracement level of the key wave from the $16,881 low to $18,387 high.<\/p>\n<p>The next major support is near the $17,000 zone. A downside break below the $17,000 support might call more losses. In the stated case, the price could decline towards the $16,500 support in the near term. Any more losses might stage a larger decline below the $16,000 level in the coming days.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $17,250, followed by $17,000.<\/p>\n<p>Major Resistance Levels \u2013 $17,650, $18,000 and $18,380.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to clear $18,000 and corrected lower. BTC is signaling bearish signs and might even start a fresh decline in the coming sessions. Bitcoin started a downward move and traded below the $17,600 support. The price is trading below $17,500 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $17,620 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move lower unless it reclaims the 100 hourly SMA. Bitcoin Price Restarts Decline Bitcoin price attempted an upside break above the $18,400 zone resistance zone. BTC failed to stay above the $18,000 pivot level and reacted the downside. A high was formed near $18,387 before the price started a fresh decline. There was a clear move below the $18,200 and $18,000 levels. The price declined below the 50% Fib retracement level of the key wave from the $16,881 low to $18,387 high. Besides, there was a break below a major bullish trend line with support near $17,620 on the hourly chart of the BTC\/USD pair. Bitcoin price is now below $17,500 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $17,500 level and the 100 hourly simple moving average. The first major resistance is near the $17,650 zone, above which the price may perhaps revisit the $18,000 zone. The next major resistance is near $18,380, above which the price might gain pace and rise towards the $19,000 level. More Losses in BTC? If bitcoin fails to clear the $17,650 resistance, there could be more downsides. An immediate support on the downside is near the $17,240 level. It is near the 76.4% Fib retracement level of the key wave from the $16,881 low to $18,387 high. The next major support is near the $17,000 zone. A downside break below the $17,000 support might call more losses. In the stated case, the price could decline towards the $16,500 support in the near term. Any more losses might stage a larger decline below the $16,000 level in the coming days. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $17,250, followed by $17,000. Major Resistance Levels \u2013 $17,650, $18,000 and $18,380.<\/p>\n","protected":false},"author":67,"featured_media":463052,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-512586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to clear $18,000 and corrected lower. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K","url":"http:\/\/wncen.com\/news\/bitcoin-price-prediction-btc-16k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-prediction-btc-16k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179456522_l-2015.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-12-16T03:12:19Z","datePublished":"2022-12-16T03:12:19Z","dateModified":"2024-06-11T08:08:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-prediction-btc-16k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-prediction-btc-16k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179456522_l-2015.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-12-16T03:12:19Z\",\"datePublished\":\"2022-12-16T03:12:19Z\",\"dateModified\":\"2024-06-11T08:08:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/512586"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=512586"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/512586\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463052"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=512586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=512586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=512586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}